• Gold: 1,263.20 7.40
  • Silver: 16.14 0.10
  • Euro: 1.180 0.005
  • USDX: 93.554 -0.378
  • Oil: 57.49 0.23

December 4: Gold and Silver Fall With Tech Stocks

Chris Mullen
|
Monday, December 4th

 

Close

Gain/Loss

Gold

$1276.30

-$4.40

Silver

$16.34

-$0.11

XAU

78.73

-1.16%

HUI

182.78

-1.65%

GDM

616.53

-1.15%

JSE Gold

1386.89

-47.20

USD

93.17

+0.26

Euro

118.60

-0.30

Yen

88.94

-0.31

Oil

$57.47

-$0.89

10-Year

2.372%

+0.009

T-Bond

154.3125

-0.0625

Dow

24290.05

+0.24%

Nasdaq

6775.37

-1.05%

S&P

2639.44

-0.11%

 
http://www.goldseek.com/news/2017/2017-12-04_14-01-17.jpg

 

The Metals:

 

Gold fell $8.90 to $1271.80 in Asia before it chopped back higher in London and New York, but it still ended with a loss of 0.34%. Silver slipped to as low as $16.245 and ended with a loss of 0.67%.

 

Euro gold fell to about €1076, platinum lost $14 to $924, and copper remained at about $3.07.

 

Gold and silver equities fell a little over 1% at the open and remained near that level for the rest of the day.

 

The Economy:

 

U.S. factory orders slip; core capital goods orders revised up  Reuters

Fed rate expectations on the rise before tax cuts passed Senate: Reuters poll  Reuters

U.S. Inflation Rebound Hasn't Been the Right Kind for This Fed  Bloomberg

 

Tomorrow brings International Trade and ISM Non-Manufacturing.

 

The Markets:

 

Oil fell 1.5% on concerns about rising production from the US.

 

The U.S. dollar index rose and treasuries edged lower as the Dow ended higher on proposed tax cuts, but notable early gains were pared drastically and the Nasdaq fell markedly on a selloff in tech shares.

 

Among the big names making news in the market today were Prysmian and General Cable, CVS and Aetna, Riot Blockchain, and Bitcoin.

 

GATA Posts:

 

 

Russia-China bond market play could start a dollarless financial system

World Gold Council plans another ETF

CBOE and CME battle for bitcoin futures bragging rights

As brokers line up to offer bitcoin futures, others are quiet

UK plans crackdown on bitcoin

Brandon White: Where does the Bank of Canada stand on gold as an asset?

 

The Statistics:

As of close of business: 12/1/2017

Gold Warehouse Stocks:

8,906,485.958

-6,874.735

Silver Warehouse Stocks:

239,261,217.319

+2,179,289.116

 

Global Gold ETF Holdings

[WGC Sponsored ETF’s]

 

 

Product name

Total Tonnes

Total Ounces

Total Value

New York Stock Exchange Arca (NYSE Arca) AND Singapore Exchange (SGX) AND Tokyo Stock Exchange (TSE) AND Hong Kong Stock Exchange (HKEx) AND Mexico Stock Exchange (BMV)

SPDR® Gold Shares

848.112

27,267,639

US$34,711m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities

138.13

4,441,056

US$5,659m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold

152.66

4,908,200

US$6,252m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$458m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 8.564 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 241.63: +0.27 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,928.44: +23.49 change from yesterday’s data.

 

The Miners:

 

B2Gold’s (BTG) commercial production achievement, Avino’s (ASM) TSX approval, and Endeavour Silver’s (EXK) drill results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Alio Gold

ALO +6.27% $3.05

2.  Fortuna

FSM +1.43% $4.27

3.  Freeport

FCX +1.35% $14.30

 

LOSERS

1.  Coeur

CDE -6.14% $7.19

2.  Americas Silver

USAS -4.66% $3.48

3.  AngloGold

AU -4.35% $9.90

Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.

       

Please see Yahoo’s Mining/Metals News Wire for all of today’s mining news.

 

- Chris Mullen, Gold Seeker Report

 

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Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2017

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